SAN RAFAEL, Calif. — (BUSINESS WIRE) — February 26, 2015 —
Autodesk,
Inc. (NASDAQ:
ADSK) today reported financial results for the fourth
quarter and full fiscal year ended January 31, 2015. The strong increase
in billings and subscriptions and record cash flow from operating
activities reflect continued progress on the company’s ongoing business
model transition.

Fourth Quarter Fiscal 2015

Total billings increased 13 percent, compared to the fourth quarter
last year as reported, and 20 percent on a constant currency basis.

Deferred revenue increased 28 percent to a record $1.16 billion,
compared to $901 million in the fourth quarter last year.

Total subscriptions, including maintenance, desktop (rental), and
cloud subscriptions, increased by approximately 100,000 from the third
quarter of fiscal 2015, including approximately 17,000 subscriptions
related to the recent acquisition of Shotgun. This is the first
quarter that Shotgun subscriptions have been included in the
subscription count.

Revenue was $665 million, an increase of 13 percent compared to the
fourth quarter last year as reported, and 15 percent on a constant
currency basis. Revenue contribution from the recent acquisition of
Delcam was approximately $20 million.

GAAP operating margin was 2 percent, compared to 9 percent in the
fourth quarter last year.

Non-GAAP operating margin was 13 percent, compared to 20 percent in
the fourth quarter last year. A reconciliation of GAAP to non-GAAP
results is provided in the accompanying tables.

GAAP diluted earnings per share were $0.05, compared to $0.23 in the
fourth quarter last year.

Non-GAAP diluted earnings per share were $0.25, compared to $0.40 in
the fourth quarter last year.

Cash flow from operating activities was a record $257 million,
compared to $184 million in the fourth quarter last year.

"Our strong fourth quarter results capped off a terrific year for
Autodesk," said
Carl
Bass, Autodesk president and CEO. "Strength in our core
Architecture, Engineering and Construction (AEC) and Manufacturing
business segments led to over-performance on nearly all metrics,
including billings, revenue, deferred revenue, subscription additions,
and cash flow. Fiscal 2015 was the first year of our business model
transition to more cloud and term-based subscription offerings and we
are pleased with our early progress. Our subscription offerings provide
our customers with greater flexibility and create a new and better
experience. Over the course of the next two years we expect to
transition the vast majority of our business to these subscription
offerings."

Fourth Quarter Operational Overview

EMEA revenue was $273 million, an increase of 19 percent compared to the
fourth quarter last year as reported, and 21 percent on a constant
currency basis. Revenue in the Americas increased 15 percent compared to
the fourth quarter last year to $238 million. Revenue in APAC was $154
million, an increase of 2 percent compared to the fourth quarter last
year as reported, and 7 percent on a constant currency basis. Revenue
from emerging economies was $107 million, an increase of 21 percent
compared to the fourth quarter last year as reported, and 22 percent on
a constant currency basis. Revenue from emerging economies represented
16 percent of total revenue in the fourth quarter.

Revenue from the AEC business segment was $242 million, an increase of
24 percent compared to the fourth quarter last year. Revenue from the
Platform Solutions and Emerging Business (PSEB) segment was $189
million, a decrease of 4 percent compared to the fourth quarter last
year. Revenue from the Manufacturing business segment was $190 million,
an increase of 23 percent compared to the fourth quarter last year.
Revenue from the Media and Entertainment business (M&E) segment was $43
million, an increase of 5 percent compared to the fourth quarter last
year.

Revenue from Flagship products was $298 million, an increase of 4
percent compared to the fourth quarter last year. Revenue from Suites
was $249 million, an increase of 15 percent compared to the fourth
quarter last year. Revenue from New and Adjacent products was $117
million, an increase of 41 percent compared to the fourth quarter last
year.

Fiscal 2015 Highlights*

Total billings increased 18 percent compared to fiscal 2014 as
reported, and increased 20 percent on a constant currency basis.

Revenue was $2.51 billion, an increase of 10 percent compared to
fiscal 2014 as reported, and 12 percent on a constant currency basis.
Revenue contribution from the recent acquisition of Delcam was
approximately $48 million.

Total subscriptions (maintenance, desktop, and cloud) increased by
approximately 385,000 to 2.23 million.